(QKC) QuarkChain Price Prediction & Forecast
[Updated 10 February 2019]
Thinking of investing in QuarkChain in February 2019? Here is our honest price prediction and forecast.
- Fundamental Analysis
- Technical Analysis
- Specialists’ Perspective
- QuarkChain Price Prediction 2019
- QuarkChain Price Prediction 2020
- QuarkChain Price Prediction 2021
- QuarkChain Price Prediction 5 years
- Our Prediction
QuarkChain (QKC) is a high-speed blockchain platform designed to be the most efficient system for peer-to-peer transactions. Its token, the QKC, is currently an ERC20 token operating on the Ethereum blockchain, but there are plans to switch to its own native token and blockchain with the release of the QuarkChain mainnet in early 2019.
QuarkChain hopes to achieve a throughput of at least 100,000 transactions per second (tps) on-chain — but will also implement its own second layer solutions, including sharding, to help increase its maximum capacity to over one million tps.
The QuarkChain blockchain aims to maintain efficiency by allowing the load to be shared between shards and is one of the only blockchains looking to enable cross-shard communication within the sharding layer. Curiously, QuarkChain considers its sharding layer to be layer one, while the settlement layer, or root chain, is considered the second layer.
To achieve consensus, QuarkChain implements its own multi-consensus system, known as Boson, which can technically be considered an amalgamation of several different consensus mechanisms. According to QuarkChain, Boson will allow the blockchain to process transactions in a secure and scalable way by implementing a new technique known as hash power reuse.
Carrying on its tradition of using particle physics terms as naming systems, QuarkChain named its test-net “top quark” — after the elementary particle, the largest of the six known quarks. Top quark is designed to allow developers to test the functionality of the blockchain, and begin developing with QuarkChain.
Throughout 2018, QuarkChain has experienced an understandable decline, losing a great deal of value as the overall market sentiment took a turn for the worse. However, being one of the few recent initial coin offerings (ICOs) to remain above its ICO price, it is clear that support for this coin is just waiting to blossom.We at BeInCrypto expect QuarkChain will begin to gather momentum after its mainnet is launched in early 2019. If it can deliver on its promises of a truly high-throughput blockchain, then a climb to $0.30 may be on the horizon. Click To Tweet
If there is one thing that is certain in the cryptocurrency industry today, achieving the scaling required for mass adoption is one of the major goals of almost every major blockchain. Because of this, QuarkChain fits right in with the agenda and is shaping up to be a solid contender in the race for VISA-level scaling.
During its token sale that ended in June 2018, QuarkChain experienced extreme market demand and was forced to implement a lottery system to determine who would be able to participate in its crowdsale. In addition to this, those who were selected to participate were provided a relatively small personal purchase limit, ensuring that the 5,000 selected investors could only purchase a small share of the available token pool — improving the spread of tokens.
In total, just 20 percent of its $20 million token allocation was made available in the public sale, whereas the other 80 percent was snatched up in the earlier private sale round — with these private sale tokens being gradually being unlocked over a two-year period.
QuarkChain’s testnet has currently demonstrated the potential to handle more than 14,000 transactions per second (tps) — far exceeding that capable by the Bitcoin blockchain and even exceeding the 2,800 tps demonstrated by Zilliqa. However, these numbers fall drastically short of the one million transactions per second claimed in the project whitepaper, meaning much work still remains to be done.
QuarkChain has made it easy for developers to get involved with the technology by a growing list of developer materials. To help improve this process, QuarkChain also recently partnered with ArcBlock, helping to drive developers to the platform while providing a platform developers can use when building services for QuarkChain.
Overall, QuarkChain looks well positioned to grow in the near future and has been built to address a crucial need in the market. With a strong team behind it comprised of experts in their respective fields, QuarkChain appears to have a solid foundation from which to build on.
Shortly after being first listed on exchanges, QuarkChain (QKC) experienced an extraordinary spike in value, climbing to as high as 34 cents in under 24 hours on June 06, 2018. Compared to its crowdsale price of $0.0183, QKC managed to gain in value by more than 1,800 percent in just days — an impressive feat during the 2018 bear run.
Since reaching its high in June 2018, QKC then began an extended downtrend, which still persists to this day. In the months after attaining its all-time high, QKC continued to slip ever lower and only had one significant rally between Sep and Oct 2018.
Despite seeing a colossal decline as the market turned sour in early-2018, QKC still remains significantly higher than its crowdsale price — making QuarkChain one of the few initial coin offerings to maintain a positive return for its investors.
During the 2018 period, QuarkChain saw its market capitalization peak at $72 million, at the time making it the 162nd largest cryptocurrency by market cap. However, despite falling considerably since its peak, QuarkChain managed to improve its position relative to other cryptocurrencies and is now hovering between rank 90 and 120 most of the time.
Since QuarkChain has managed to improve its position on the market cap rankings, this means it is falling much slower than many competing blockchains during this bear period. Despite this relative strength, QKC continued to lose ground again Bitcoin (BTC) over this period, falling in value approximately 63 percent faster.
QuarkChain had a great deal of hype surrounding its ICO and was widely projected to become one of the frontrunners for most scalable blockchain in the near future. Since the value of QKC multiplied drastically shortly after the ICO concluded, expectations were sky-high for the high-throughput blockchain — but this quickly dissipated as the cryptocurrency market fell into decline throughout 2018.
Now, the great majority of crypto-users tend to be bearish for the short-term but bullish for the long-term prospects of the industry as a whole. In general, high-throughput blockchains are among the more popular picks to improve in 2019 and beyond, as many believe that solving the scaling problem is one of the key steps to cryptocurrency may adoption.
When looking at expert predictions for the coin, we find that the majority believe that QuarkChain will continue to slip as we progress into mid-2019, and then will start an upwards trends towards the middle of the year — with fantastic growth projected for the somewhat medium term.
Coinpredictor believes that Quarkchain will continue to fall in the near term, but will experience small gains in mid-2019, growing just 1.9 percent over this period. Beyond this, Coinpredictor believes QuarkChain has huge potential for growth, but must successfully attract significant support to do so.
Disagreeing with this, WalletInvestor — a website specializing in making predictions about cryptocurrency price movements — thinks that the one-year prospects for QuarkChain are pretty bleak. It expects QKC to drop by almost 70 percent over the next year, falling under $0.01 as a result.
Lastly, crypto-trading platform Coinswitch appears to be extremely bullish on the scaling coin in projecting it to reach $0.208 within a year and almost $0.4 within five years — achieving an incredible 995 percent growth over this period.
QuarkChain Price Prediction 2019
Despite being one of the few cryptocurrencies to still be trading above its ICO price, QuarkChain (QKC) has been trading in a descending channel for much of 2018 and continued to do so into early 2019. If this trend continues, QKC may fall to as low as 1.6 cents by mid-2019 — falling below its ICO price for the first time ever.
Despite its current negative trajectory, however, QuarkChain does have several developments in the pipeline that may rekindle the community and helps its value recover. One of these developments is the Q3/Q4 2019 release of its latest testnet, adding support for multiple native tokens and a variety of different consensus mechanisms.
Typically, the release of a functional testnet with useful features is seen as an indicator of strength and can lead to significant growth if community sentiment agrees. On the other hand, if the Q3/Q4 deadline is not met without a good reason, then this can be taken as a sign of weakness — potentially leading to further losses.
Additionally, the QuarkChain mainnet is scheduled for release in early 2019, but the exact date remains to be clarified, indicating there may be some technical challenges lurking.
In early June 2019, 30 percent of the tokens allocated to private sale investors will be unlocked and, at the same time, a fraction of the locked tokens will be available to the QuarkChain Foundation and team — leading to an increase in the circulating supply of QKC.
Similarly, in September 2019, a further 30 percent of the tokens issued to private sale participants will be unlocked — bringing the total unlocked tokens to 80 percent with the remaining 20 percent of private sale tokens being unlocked in December 2019.
Whether or not this negatively or positively impacts the price remains to be seen. However, looking back at previous unlock events, the price actually experienced growth in subsequent days — seeing the price rise from around seven cents to over 10 cents just days later.
For completeness, it should be noted that the private sale unlock schedule was altered in late 2018 as the market failed to recover. Prior to this, tokens were unlocked on a monthly basis.
QuarkChain Price Prediction 2020
By 2020, the QuarkChain mainnet should be live and relatively stable, having been available for much of 2019.
Assuming there are no major technical hiccups during 2020, then the additional features Quarkchain (QKC) should see should lead to substantial price growth, potentially reaching as high as $0.10 amidst a recovering market.
Since QuarkChain roadmap doesn’t currently extend in 2020, it is difficult to predict future updates and changes that might be added to the pipeline. However, it is reasonable to assume that Quarkchain will begin successfully implementing sharding in mid-2020, roughly in line with projections from other projects, including Ethereum.
QuarkChain is currently being mined using a proof-of-work consensus model, which should ensure QuarkChain retains some interest for as long as mining remains profitable. However, mining is only likely to be profitable if QuarkChain continues to gather momentum, growing its user base and the number of DApps on the platform.
Additionally, since the multi-asset testnet will be launched in late 2019, it is reasonable to assume that this will be further refined throughout 2020 — with tokens from additional blockchains being supported by QuarkChain.
If this system goes as planned, QuarkChain may become the first platform to allow smart contract GAS to be paid with any supported token, massively expanding the reach of DApps. This would undoubtedly have a big positive effect on the Quarkchain (QKC) price and, combined with its upcoming EVM compatibility upgrade, QuarkChain should see a great resurgence in 2020.
QuarkChain Price Prediction 2021
If QuarkChain can maintain a strong presence throughout 2020, then the high-throughput coin should be well prepared for the increased competition likely to appear in 2021. Under the best case scenario, Quarkchain (QKC) might exceed its all-time high — climbing to more than $0.30 per coin during this period.
By 2021, it is very likely that the great majority of large blockchains projects will have implemented one or more scaling solutions— potentially placing many of them on-par or even beyond the capabilities of QuarkChain.
If QuarkChain fails to maintain technological superiority over this increasing competition, then it could also begin to slip down the ranks — though should still benefit from renewed interest in cryptocurrencies.
It is widely believed that with scaling comes increased adoption. However, this does not necessarily mean the most scalable cryptocurrency will be the main beneficiary of this increased attention. Instead, it may simply be the project with the largest community, the biggest DApp ecosystem, or most relevant use cases that shine in 2021.
QuarkChain Price Prediction 5 years
Since QuarkChain (QKC) is a relatively new cryptocurrency, it remains to be seen how it is able to fare in the medium-to-long term. However, simply based on the likely trajectory of the cryptocurrency industry, seeing a future price above $1.00 is certainly possible.
Since Ethereum is arguably one of the projects most likely to develop a substantial DApp ecosystem over the next several years, QuarkChain’s choice to support Ethereum smart contracts could be one of its major selling points in future.
Similarly, being a blockchain that is looking to radically improve the efficiency of peer-to-peer transactions and the operation of smart contracts, QuarkChain finds itself at the intersection of two challenging, but potentially groundbreaking, frontiers.
If QuarkChain manages to solve some the problems that even some of the oldest and most prominent blockchains have not, then it will almost certainly experience dramatic growth in doing so. However, the technical capabilities of the QuarkChain developers and its community contributors remain to be demonstrated.
Based on our prediction, QKC should see impressive growth ahead and is very unlikely to fail, providing the project remains at least competitive as the market grows. Because of this, there is little chance QKC will fall under $0.02 during the next five years.
Here at BeInCrypto, we believe that market forecasts should be made based on the data available, including demonstrators of strength, previous market movements, and current industry trends.
Based on this information, we predict that QuarkChain will be successful in the long term, and expect QKC to reach over $1.00 in the year to come — likely benefitting from gradual growth beginning in mid-to-late 2019.
Achieving a total market capitalization of above $200 million within the next several years is likely, and achieving far in excess of this is a realistic prospect. It is unlikely that we will see Quarkchain crash to absolute zero as development appears to be moving as planned without too many complications.
In time, QuarkChain will need to demonstrate its technical chops, and deliver the solutions promised during and after its ICO. If this is achieved, and QuarkChain manages to build a large community in tandem, then it could become one of the dominant players in the blockchain space.
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Regardless of its potential, investors should be wary before investing in any cryptocurrency or other digital. The crypto market is still young, wild price movements are frequent and many digital assets have a realistic chance of total collapse.
What is your opinion on QuarkChain? Can it outcompete other high-throughput cryptocurrencies in the coming years? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock, CoinMarketCap, TradingView.
[Disclaimer: The contents of this article are not intended as investment advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile.]